First Solar’s (FSLR) “Outperform” Rating Reiterated at Cowen
First Solar (NASDAQ:FSLR)‘s stock had its “outperform” rating reissued by research analysts at Cowen in a note issued to investors on Wednesday. They presently have a $77.00 price target on the solar cell manufacturer’s stock, up from their previous price target of $60.00. Cowen’s target price suggests a potential upside of 25.80% from the company’s previous close.
A number of other analysts have also weighed in on FSLR. Roth Capital set a $70.00 price objective on First Solar and gave the company a “buy” rating in a research note on Friday, December 1st. Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of First Solar in a research note on Friday, December 1st. Zacks Investment Research lowered First Solar from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Vetr raised First Solar from a “sell” rating to a “buy” rating and set a $64.01 price objective for the company in a research note on Tuesday, October 31st. Finally, ValuEngine lowered First Solar from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $55.16.
Shares of First Solar (NASDAQ FSLR) opened at $61.21 on Wednesday. The stock has a market capitalization of $5,980.88, a P/E ratio of 14.04 and a beta of 2.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. First Solar has a 52 week low of $25.56 and a 52 week high of $63.10.
Institutional investors have recently made changes to their positions in the stock. Fiduciary Trust Co. bought a new position in shares of First Solar during the second quarter valued at approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of First Solar by 64.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock valued at $201,000 after acquiring an additional 1,716 shares in the last quarter. Garner Asset Management Corp bought a new position in shares of First Solar during the second quarter valued at approximately $208,000. World Asset Management Inc bought a new position in shares of First Solar during the second quarter valued at approximately $221,000. Finally, Riverhead Capital Management LLC raised its holdings in shares of First Solar by 82.6% during the second quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock valued at $226,000 after acquiring an additional 2,560 shares in the last quarter. Institutional investors own 51.21% of the company’s stock.
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First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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